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SVN Chicago Commercial Brokers $2.4M Sale Of Tower Station Center In West Chicago

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SOLD
$2,400,000

Illinois

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Retail
Sold 12/18/2023
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Property Image
SOLD

SVN Chicago Commercial Brokers $2.4M Sale Of Tower Station Center In West Chicago

956 North Neltnor Boulevard

See Similar Deals
Retail
Sold 12/18/2023
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Summary

ILLINOIS
Asset Type:Retail
Transaction Type:Sale

SVN Chicago Commercial has brokered the $2.4 million sale of Tower Station Center in West Chicago, a retail center with 11 units and Aldi as the shadow anchor. The property, located at 956 North Neltnor Boulevard, is 73% occupied. The sale completed a 1031 exchange for the undisclosed seller and involved six months of negotiations with an out-of-state buyer.

Summary of transaction details:

  • Property Type: Retail
  • Sale Price: $2,400,000
  • Units: 11
  • Price Per Unit: $218,182
  • Address: 956 North Neltnor Boulevard, West Chicago
  • Market: West Chicago
  • Brokers: Karen Kulczycki (SVN Chicago Commercial) & Ron Weissenhofer (SVN Chicago Commercial)

The sale of Tower Station Center was facilitated by Karen Kulczycki and Ron Weissenhofer of SVN Chicago Commercial. Their expertise and negotiation skills played a crucial role in completing this transaction. The involvement of an out-of-state buyer indicates the strong market appeal of the retail center in West Chicago.

Players

Karen Kulczycki
3 deals$4.3M volume(630) 330-3352
BROKER

Ron Weissenhofer
SVN
2 deals$5.4M volume(630) 712-2573
BROKER

Details

SOLD
IMAGE: Karen Kulczycki & Ron Weissenhofer DATE: 12/18/2023 ADDRESS: 956 North Neltnor Boulevard MARKET: West Chicago ASSET TYPE: Retail BROKERS: Karen Kulczycki (@KarKul1) & Ron Weissenhofer - SVN Chicago Commercial (@SVN_Chicago) SALE PRICE: $2,400,000 UNITS: 11 ~ PPU: $218,182 NOTE: SVN Chicago Commercial has brokered the $2.4 million sale of Tower Station Center in West Chicago, a retail center with 11 units and Aldi as the shadow anchor. The property, 73% occupied, completed a 1031 exchange for the undisclosed seller, selling to an out-of-state buyer after six months of negotiations.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$127,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,377.22
Annual Debt Service$136,526.69